Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bitcoin hits new all-time high above $63,000 ahead of Coinbase debut

cnbc.com

Post reply on HN
Print view View original

1–10 of 16 posts

Re: Bitcoin hits new all-time high above $63,000 ahead of Coinbase debut

#7

Post by DINKDINK »

McP wrote: post #3

And the energy usage goes up accordingly. If you care about climate change, sell.

When a producer's margins increases, it doesn't mandate that their costs / waste increases. When margins increase, it allows, but doesn't mandate, production to be expanded -- either by new entrants or existing producers. In Bitcoin's case, the market demands anti-fraud commitments (in the form of unforgable SHA hashes) to secure the network. The increase in margins available to bitcoin block producers means that they could increase hash production. This means bitcoin's money database that doesn't use war or violence to protect it, is even more secure against those who would interfere with it -- say eco-fascists who think politicized violence against block producers achieves some greater good.

Producers may source their input goods (equipment, energy) from any source they wish ("we only sell goods made with clean energy or From Our Area"). A kWh sourced from a hydroelectric plant has the same ecological cost be it consumed by a bitcoin block producer or if that kWh is used to charge a van that's used to drive people around a town all day to pick up paper with the faces of dead people on it so it can be counted and update a centralized database.

Luckily a freed market exists where we can price if the money maintained by freed people performs better than the BankingAuthoritarian Oligopolies.

If you care about climate change, realize the infinite and perpetual money printing is destroying the earth by mandating perpetual "growth", and fiat money and their investment derivatives fuel that ecological destruction.

Re: Bitcoin hits new all-time high above $63,000 ahead of Coinbase debut

#8

Post by skinnymuch »

diplodocusaur wrote: post #2

https://hn.algolia.com/?q=bitcoin+all+time+high https://hn.algolia.com/?q=bitcoin+falls

Technically this is trying to relate to Coinbase’s IPO which is insanely valued. Of course there will be a fall later on too though.

Re: Bitcoin hits new all-time high above $63,000 ahead of Coinbase debut

#9

Post by HH_GU »

nikolay wrote: post #5

Yeah, yeah. One thing I admire the Bitcoin fans - they are diehards. But at the same time, there's nothing new under the sun - greed is powerful! But it never ends well!

can't agree more, just can't understand why bitcoin could be so expensive

Re: Bitcoin hits new all-time high above $63,000 ahead of Coinbase debut

#10

Post by strikelaserclaw »

HH_GU wrote: post #9
nikolay wrote: post #5

Yeah, yeah. One thing I admire the Bitcoin fans - they are diehards. But at the same time, there's nothing new under the sun - greed is powerful! But it never ends well!

can't agree more, just can't understand why bitcoin could be so expensive

Person A see's a post about some crypto guy and how he paid off all his school loans with crypto, person A buys into crypto hoping for a similar outcome, this drives the price up. Person B seeing that the price has gone up regularly feels like he would be missing out if he didn't buy in, this drives the price up even more. Person A feels validated for investing because due to person B, the price has gone up, and maybe invests a little more, causing the price to shoot up, Person B feels validated... now imagine this circus with millions of people.
Post reply on HN